Yesterday, oil prices corrected up to the key resistance area of the short-term downtrend, at 63.03 – 62.64. As sellers held that area, the price declined and reached the first sell target of 60.90. The next sell target is yesterday’s low near 58.75.
If resistance (В) 63.03 – 62.64 is broken to the upside today, the short-term trend will reverse upward. In that case, long positions may be worth considering starting tomorrow.
USCrude Trading Ideas for Today:
Hold a part of shorts near resistance (В) 63.03 – 62.64.
TakeProfit: 58.75.
StopLoss: breakeven.
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